J.D. Power found that among customers who got their mortgages from banks, only 18 % completed a detailed application online, versus 31 % for customers of nonbank lenders. (americanbanker.com)
The threat reflects a boom in nonbank mortgage companies, a category of independent lenders that are more lightly regulated and more financially fragile than banks — and which now originate half of all US home mortgages.» (thehousingbubbleblog.com)
M1 specifically computes figures based on «the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency, held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy.» (links2exchange.net)